ST Engineering to acquire Volant

Purchase consideration is US$13.1m subject to post closing adjustments.

Singapore Technologies Engineering Ltd announced that Vision Technologies Aerospace Incorporated has entered into an agreement to acquire 100% equity interest in Volant Aerospace, LLC.

Following the acquisition, Volant will become a wholly owned subsidiary of VT Aerospace. VT Aerospace, which owns four aerospace operating companies in Mobile, Alabama; San Antonio, Texas and Hartford, Connecticut, is a subsidiary of Vision Technologies Systems, Inc., the US headquarters of ST Engineering.

Subject to customary conditions precedent, the transaction is anticipated to close by the end of December 2012.

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